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Investing.com -- Barclays highlighted positive setups for several software and cybersecurity names ahead of earnings, while cutting ratings on CyberArk and EverCommerce.
The bank said it sees stronger second-half prospects for Tyler Technologies, with easier comparisons helping SaaS bookings.
“We are pounding the table on TYL as we think SaaS bookings could improve in 2H as comps ease and DOGE concerns have faded, which could help turn the narrative on the stock around – looking forward, we think FY26 SaaS revenue can grow in line with the LT target,” analyst at Barclays said.
Check Point could deliver about 10% billings growth in the third quarter on slipped deals and a healthy pipeline, while Varonis is benefiting from GenAI-driven demand and could sustain 20% long-term ARR growth.
HealthEdge is also tracking well on app downloads, pointing to better billings.
Barclays downgraded CyberArk to Equal weight from Overweight, citing that deal-related premiums and regulatory risks are already priced in. EverCommerce was cut to Underweight from Equal weight on slowing growth and retention despite a healthier small business backdrop.
The bank reinstated coverage of Waystar at Overweight.